Movers & Shakers: June 13, 2013

Botswana: DCI +0.16%, USD 1.48m

Very good day in Gaborone thanks to a cross in FNB (3.1m shares) which accounted for 87% of turnover as value traded amounted to USD 1.48m. The rest of the market was rather dull though as market breadth was extremely thin with only a few other names trading on the day.

Egypt: EGX 30 +1.17%, USD 24m

Finally the market managed to take a breath of air to end the day in positive territories, leaving the EGX30 to end the day up 1.17% to close at 4,651.76 points. Market volumes were significantly low relative to recent turnovers, the market traded a total turnover of USD 24m. After yesterday's weak close the market managed to gain some grounds lead by notable buying from international institutions, targeting names such ESRS, HRHO an COMI each ending the day up 2.43%, 2.15% and 1.36% respectively, yet local investors both retail and institutional managed to keep their bearish sentiment to end the day as net sellers, targeting names such as CCAP and PHDC, each ending the day down 0.87% and 1.23% respectively.

Investor mix:
•  Foreigners were net Buyers by 42.73 mn EGP and were 24.24% of the market.
•  Egyptians were net Sellers by 47.52 mn EGP and were 69.80% of the market.
•  Arabs were net Buyers by 4.78 mn EGP and were 5.96% of the market.
•  Institutions were net Buyers by 42.97 mn EGP and were 38.17% of the market.
•  Retail were net Sellers by 42.97 mn EGP and were 61.82% of the market.

Kenya: NSE 20 -0.51%, USD 7.0m

The NSE 20 index continued to lose ground slipping further 0.51% driven by losses on large cap counters. All the top movers pulled back except ARM which gained 1.5% to KES 66 despite heavy foreign selling. Safaricom was the day’s top mover accounting for 33% of trades, easing 0.7%, with foreign investors being net buyers on the counter. EABL, KCB and Equity bank continued to witness selling pressure slipping 2.2%, 1.9% and 1.5% to KES 350, KES 39, and KES 33 respectively. CFC Stanbic recouped some of yesterday’s losses climbing 2.2% to KES 69. Kenya Airways continued to reverse losses made earlier in the week edging up 1.4% to KES 10.70 ahead of FY13 earnings announcement expected tomorrow. Equity turnover today climbed 31.9% with local investors continuing to dominate trading accounting for 52% of trades.

Mauritius: Semdex -0.21%, USD 1.51m

Much better day in Mauritius today with value traded amounting to a pleasing USD 1.51m thanks to MCB as there were a number of crosses in the name (164k shares traded) while the banking giant followed global markets lower, falling 1.29% to close at 191.50. Both SBM and NMH were very quiet as 7.25m shares and 4.4k shares traded in the names respectively.

Nigeria: ASI -3.88%, USD 36.3m

The profit taking which began about mid-session yesterday continued today as the market came under some serious pressure with the ASI falling 3.88% while activity remained robust with value traded amounting to $36.3m. The selling was once again broad based with the Cosumer Goods Index falling 5.93% with the likes of PZ Cussons (-10.00%), Dangote Sugar (-9.96%) and Cadbury (-8.33%) all taking serious strain while other large caps in the sector also came under the whip. Banks were not spared as the Bank 10 Index fell 6.07% with ETI(-7.50%), Guaranty Trust Bank (-6.46%) and Zenith Bank (-6.07%) leading the way lower. It should however be noted that buyers definitely started coming in towards the end of the session, picking up some value lower down with a number of the stocks closing well off their respective day lows.

Please note that the index figure above is correct at the time of writing.

South Africa: Top 40 -0.05%, USD 1.87bn

The JSE ended the day lower with the Top 40 Index falling 0.05% to close at 35,383 while value traded amounted to USD 1.87bn. Financials were the day's biggest losers with the Index falling 0.43% followed by Industrials which fell 0.04% while Resources gained 0.20%. The Rand was trading at 9.91 and 13.20 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.76%, USD 162k

Decent day in Lusaka (relatively speaking) with value traded amounting to USD 162k thanks to a cross in Zambeef. The names that traded included BATZ, CEC, LAFA, ZMBF and ZNCO. ZMBF was the biggest contributor towards turnover with value traded in the name amounting to USD 132k. REIZ was the second biggest contributor towards turnover with value traded in the name amounting to USD 9k.

Zimbabwe: Industrials -0.89%, Mining +4.18%, USD 1.89m

The main stream Index was down -0.89% to 219.67 pts with funds invested in the stock market falling -52% to $1.89m with foreign demand waning -61% to $0.98m. Brewer Delta weakened by a further -3.21% to 151c as sellers continued to cash out. The top capitalized stock’s drop coupled with fallers PGI, TA and ABC negatively impacted on the market’s performance. Banking Group BancABC in the news to have settled $10m debt owed to Mackie Diamond after losing a Supreme Court yesterday eased -8.4% to 55c on paltry trades. Group troubles saw subsidiary PGI easing -11.1% to 0.8c on light trades while parent TA came off -10% to 9c with demand showing at that level. Bindura’s +7.41% recovery to 2.9c and Hwange +6.7% rise to 16c saw the resource index firm +4.18% to 74.75 pts. The government announced that harmonized elections will be held on July 31 after the President gazetted the dates in Statutory Instrument 86 of 2013 today.

African Currencies